Workshop on Housing Markets, Monetary Policy and Financial Stability, Friday 12 November 2010

Program

 

Wednesday, November 12

09.00

 Welcome by Stefan Ingves                                                                  

 

09.10

Session 1: Real Estate Markets and Financial Stability

Chair: Karolina Ekholm (Sveriges Riksbank)

International Developments in Housing Markets: Lessons for Sweden Philip Davis (National Institute of Economic and Social Research)[Slides]
Discussant: Peter Englund (Stockholm School of Economics)[Slides]
Real Estate Markets and Financial Stability Crises, Nancy Wallace (University of California, Berkeley)[Paper] [Slides]
Discussant: Kristopher Gerardi (Federal Reserve Bank of Atlanta)[Slides]
Q&A from workshop participants

10.40

Coffee

 

11.00

Session 2: Asset Prices, Financial Stability and Monetary Policy
Chair: Marianne Nessén (Sveriges Riksbank)

Asset Prices, Financial Stability and Monetary Policy, Kenneth Rogoff (Harvard University)
Discussant: Jean-Charles Rochet (University of Zürich, Swiss Banking Institute)[Slides]
Credit Growth and the Implications for Financial Stability and Monetary Policy, Claudio Borio (Bank for International Settlements)[Slides]
Discussant: Stefan Gerlach (Goethe Universität Frankfurt)[Slides]
Q&A from workshop participants

12.30

Lunch

 

13.40

Session 3: Housing Markets and Alternative Public Measures

Chair: Barbro Wickman Parak (Sveriges Riksbank)

Macro-Prudential tools and regulation – the international perspective, Franklin Allen (University of Pennsylvania, Wharton School)[Slides]
Discussant: Luci Ellis (Reserve Bank of Australia)[Slides] 
Using LTV and DSR as Macro-Prudential Tools – Hong Kong experiences, Cho-hoi Hui, (Hong Kong Monetary Authority)
Discussant: John Hassler (Institute for International Economic Studies, Stockholm universitet)[Slides]
Who should be responsible for macro prudential tools? Howell Jackson (Harvard University)[Slides] [Report on the Swedish FSA]
Discussant: Charles Goodhart (London School of Economics)
Q&A from workshop participants
15.45 Coffee

 

16.00

 Session 4: Panel Discussion – How do we avoid that real estate prices drive future financial crises?

Chair: Franklin Allen
Claudio Borio, Luci Ellis
[panel presentation], Stefan Gerlach, Charles Goodhart, Nancy Wallace

17.00 Close of workshop

 

 

Local organization

Lena Löfgren, Sveriges Riksbank

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